Types of Financial Aid

Scholarships

These awards do not need to be repaid.

Institutional Scholarships

Institutional scholarships are highly competitive and limited to admitted DDS students. Students are considered based on their admission application. No separate application is required. For more information, please contact the Admissions Office at 415.929.6491.

Private foundations, civic organizations and community agencies provide scholarships. In our experience, most students who are awarded outside scholarships receive them from organizations within their local community. For this reason, we encourage you to check local civic organizations and religious institutions to discover what scholarships are available. Also, military and veterans associations provide many scholarships and tuition assistance programs. Continuing students should also check the scholarship bulletin board located outside the Financial Aid Office for more scholarship information.

The following websites may be useful in identifying scholarship opportunities:

Commitment Service Scholarships

Commitment service scholarships provide support for educational and living expenses while enrolled in dental school. In exchange, recipients are required to serve in the military or in areas with health care shortages after graduation. For specific information, please contact:

Federal Loan Programs

Federal loans are the primary source of financial aid for dental students. Loans must be repaid by the recipient. Most dental students use one or more of the following loan programs to finance their dental education:

Health Professions Student Loans (HPSL)

The HPSL is a limited federal loan program administered through the Dugoni School. Awards are made to students who show great financial need and are awarded based on available funds. Health Professions Student Loan (HPSL) Program applicants have to provide parental financial information on the FAFSA prior to the April 30 deadline.

Annual loan amounts vary depending on available funding.

Interest rate is 5% fixed. Students are not charged loan interest while in school.

Payments are due 12 months after graduation or separation from school.

Repayment terms are up to 10 years.

Federal Direct Loans

Federal Direct Stafford loans are low-cost loans that are guaranteed by the federal government and funded through the Department of Education.

*** Federal Direct Loan interest rates will be established each year for loans for which the first disbursement is on or after July 1 though June 30.

An unsubsidized Direct Stafford Loan is not based on need. The student is responsible for the payment of interest. Interest begins to accrue upon disbursement of the loan funds.

The amount a student is eligible to borrow in a 12-month period is $54,000 for DDS and IDS.

The annual loan limit is $27,333 for Ortho.

Interest rate is fixed at 6.21% for loans first disbursed on or after July 1, 2014 through June 30, 2015.

Origination fee of 1.073%.

No payment is due while a student is in school. Repayment begins six months after graduation or separation from school.

Repayment terms are from 10 years to 25 years.

The Direct Graduate PLUS loan is not based on need. Students are responsible for the interest payment. Interest begins to accrue upon disbursements of the loan funds.

Interest is fixed at 7.21% for loans first disbursed on or after July 1, 2014 through June 30, 2015.

Origination fee of 4.292%.

The annual loan limit is the cost of attendance minus other aid certified by the school.

Repayment begins 6 months after graduation or separation from school.

There are no cumulative loan limits.

Borrowers must pass a credit check.

Borrowers cannot have an adverse credit history, defined in regulations, as being 90 or more days delinquent on any debt, or having a credit report that shows default, discharge, foreclosure, repossession, tax lien, wage garnishment or write-off of a Title IV debt during the five years preceding the date of the credit report.

This program does not take into consideration debt ratio or credit scores.

Private Loans

Private/alternative loans are credit-based loans offered by lenders for education purposes. Credit reports and credit scoring systems are used to determine approval and interest rates of these loans. The interest rate is variable (changes during loan) and in many cases has no cap (maximum interest rate). There are also aggregate limits (the maximum amount you can borrow for your education). If you choose a private/alternative loan for your education, please be aware of the terms and conditions above and consider if you will be able to borrow enough to fund your education without reaching your aggregate limit, as well as the future possibility of interest rate increases during the life of your loan. Please visit elmselect for more information on the lenders, terms and conditions of private loans. Our Student Loan Code of Conduct information is available at this link.

Requesting a Copy of Your Credit Report from Reporting Agencies

If you have questions about your credit report or potential eligibility to receive money from the Federal Direct Graduate Plus Program or a private loan, please contact the Financial Aid Office. Again, it is imperative to maintain a good credit history so that you can borrow the necessary funds to complete your education.

To obtain a free copy of your credit report, use the following website:

You are entitled to receive one free credit report every 12 months from each of national consumer credit reporting agencies listed below. It is your choice to order all three credit reports at the same time, or one at a time. The advantage of ordering all three at the same time is that you can compare them. However, you will not be eligible for another free credit report from the central source for 12 months. On the other hand, the advantage of ordering one now and others later (for example, one credit report every four months) is that you can keep track of any changes or new information that may appear on your credit report.

Additional credit reports can be requested directly from the following agencies: